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Maharashtra government announces 34,000 crore mega farm loan waiver scheme

Farmers Photograph: (Others)

WION Web Team Maharashtra, India Jun 24, 2017, 12.06 PM (IST)

The BJP-led Maharashtra government on Saturday announced a major Rs 34,000 crore farm loan waiver scheme that will write off debts of up to Rs 1.5 lakh per farmer, chief minister Devendra Fadnavis said.

Devendra Fadnavis said farmers who had paid back their loans regularly would be provided with 25 per cent loan benefit. He added that the government 

The scheme would make 40 lakh agriculturists debt-free and benefit 89 lakh farmers, the chief minister added.

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Devendra Fadnavis also said the government would cut its expenses and all ministers and legislators would give a month's salary to support the loan waiver.

The programme has been named after Maratha warrior king Shivaji Maharaj.

Earlier this month, farmers in many parts of Maharashtra launched protests, demanding loan waivers. The strikes disrupted supply of vegetables and other essential commodities to cities including Mumbai.

The stir was called off after the government announced the waiver of loans and promised it would bring in a comprehensive scheme to help debt-pressed cultivators. 

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